This is an update to my blog article about Wells Fargo (WFC) on 6/2/09 . I bulked up my position on Friday..my 1982 dodge truck is now full of certificates purchased at 23.46. I believe that this thing is still a buy @ $24, but I have hit the maximum space available in the back of my truck.
Without boring you with additional fundamental data points, basically as the economy gets better (ie. housing, jobs), we will see $28 bucks (16% gain)…heck $30 is in the cards. It has been treading water technically, but as July earnings approach…we may get a nice run ahead of fundamentals.
Very Long Wells Fargo
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